An agreement on loans for the project “Improving power efeciency in rural areas” was signed on September 7th between Vietnam Electricity Group (EVN) and the German Bank of Kreditanstalt für Wiederaufbau (KfW)
The project totals some EUR 162 million, including EUR 120 million from Gemany and the remainder as the corresponding capital from Vietnam.
Under the agreement, the financing time will last from the signing day to June 30th, 2014.
The project will be implemented in 26 localities in Vietnam, aiming at upgrading and improving local rural electrical networks.
As EVN is assigned by the Government to take over all rural badly-downgraded electrical networks from local power management co-ops, the fundings will be used to reorganise and rebuild the power grids in the countryside as well as ensure effective power supply for rural areas.
Translated by Thu Nguyen